Slope of Hope Blog Posts

This is the heart and soul of the web site. Here we have literally tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. You can also click on any category icon to see posts tagged with that particular category.

Momentum Stocks Moving on Earnings

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Preface from Tim: one “bullish breakout” I really like is SlopeCharts usage (shown below), which has been steadily climbing since we launched the new site last weekend. Please note clicking on any of the hyperlinks in this post will bring up its chart, and also remember that preceding a ticker symbol with a “$” in the comments section (example: $FB) will provide a hyperlink in the same manner.

Here are five momentum stocks making a move primarily on earnings.

Arrowhead Pharmaceuticals, Inc. (ARWR) jumped $1.25 to $9.00 on 5.6 million shares Wednesday, almost four times its average volume. The drug developer reported fiscal second quarter earnings on Tuesday that matched Wall Street expectations.  The move broke the stock out of a two-month coiling consolidation.  At its intraday high of $9.60, the stock got up to resistance at the rising trendline before backing off.  A breakthrough there could lead to $13.

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Four Biotechs Breaking Out

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Biotech stocks we follow were big movers Tuesday, and here are four to watch for continued upside.

REGENXBIO Inc. (RGNX) exploded up 18%, or $5.95, to close at $37.40 on very heavy volume of 1.2 million shares traded Tuesday. That is more than three times its average volume. The move was a follow-through from Monday’s surge that came on news that business partner, AveXis (AVXS), also in the gene therapy space, is being acquired by Novartis.  Next target is $40-41.

Tandem Diabetes Care, Inc. (TNDM) tore up 22%, or $1.29, closing at $7.01 on huge volume of 6.6 million shares traded. That is more than four times its average volume. The move came as the medical device company announced preliminary financial results indicating insulin pump shipments increased by 56 percent and sales by 42 percent in the first quarter of 2018 compared the first quarter of 2017.  Having moved up with high velocity, the stock has appreciated a whopping 89% in value in the last three weeks. On March 23, Robert W. Baird upgraded the stock from neutral to outperform with a price target lifted from $3 to $7.  Price is at the top of its channel, so expect a potential short-term pullback. Next target: $8.50. (more…)

Two Higher, Two Lower

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By Harry Boxer – – Retailers lead our list of top charts to watch, while two technology stocks lead on the short side.

Lululemon Athletica Inc. (LULU) sprinted up 9%, or $7.25, to close at $85.96 on extremely heavy volume of 10.7 million shares traded Wednesday.  That’s more than five times its average volume. The jump up came with the athletic apparel company’s better-than-expected earnings announcement and 2018 outlook.  The move broke the stock out of a bull wedge consolidation, reaching a new all-time high of $87.98 intraday. Next target: $94.

Macy’s, Inc. (M) moved up 4%, or $1.21, closing at $29.07 on 11 million shares traded. The move came with news that President Trump is considering legal action against competitor Amazon that favors traditional department stores. The stock reached a bottom right before its November 9 earnings announcement and has been on its way back up ever since. Price is currently sitting in a bull flag consolidation pattern, showing significant potential for another leg up. Next target: $34.50. (more…)

Five Tech Stocks to Watch

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Here are five technology stocks to watch with strong technical momentum.

Cree, Inc. (CREE) had a big day on Tuesday, exploding up out of a three-year base and gaining 9%, or $3.70, to close at $41.76 on extremely heavy volume of 6.3 million shares traded — more than four times its average volume. The move came with news of the LED product company’s buyout of chipmaker Infineon, a move anticipated to increase revenue and profit margins in its Wolfspeed power and RF division. This is the highest price the stock has seen since September 2014. Next target: $44.

Cypress Semiconductor Corporation (CY) broke through a double top consolidation pattern, moving up 43 cents and closing at $18.07 on heavy volume of 9.3 million shares traded Tuesday. The company announced that its CFO will present at two investor conferences next week. The stock has gained more than 30% over the last year. Next target: $20.

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Three Shorts to Watch

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From Harry Boxer: As the market sells off, here are some charts that could continue lower.

Advanced Energy Industries, Inc. (AEIS) declined by 38 cents and closed at $66.32 on 334,100 shares traded and no news Wednesday. Price began to break down from a bear flag, failing to close above the right edge of the flag at $67. The power tech company’s CFO resigned on January 26. The value of the stock has depreciated by near 30% since October 30. Next target: $57.

Sun Hydraulics Corporation (SNHY) went down $1.83, closing at $51.92 on 627,300 shares traded Wednesday. The stock looks done with its climb up to $70 over the last several months, having rolled over on January 30 into a month-long bear flag consolidation that broke further down this week. The move followed the fluid power manufacturing company’s quarterly earnings announcement on Tuesday. If the stock cannot stay above support at about $44.50, $41 may not be far behind. (more…)

Four Stocks to Watch on Technical Momentum

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Earnings news and strong technical momentum are powering these four stocks.

HTG Molecular Diagnostics, Inc. (HTGM) jumped 10.6%, or 43 cents, closing at $4.48 on very heavy volume of 3.4 million shares traded. The move came as the company, which provides instruments, reagents and services for molecular profiling applications, presented at an industry conference. This stock has great price action. It exploded up to $4.69 on Monday, then fell to $3.82 on Tuesday before bouncing back up again to close at its high for the day. If price moves beyond $4.70, a move up to $5.30 may come very quickly.

Mimecast Limited (MIME) soared to a new all-time high of $35.05 intraday before closing up $1.02 at $34.24 on extremely heavy volume of 1.3 million shares traded — more than four times its average volume.  On Monday the London-based data security company reported earnings that topped Wall Street expectations, and on Tuesday it announced it has moved its North American headquarters to a larger office to accommodate rapid business growth. Next target: $38. (more…)